• The meaning of “Audit” under the GST act is the examination of all documents, records, returns maintained or furnished by the registered person under this Act/ rules or under any other law.
  • When the annual turnover of the registered person during a financial year is more than ₹ 2 crores.
  • There are two types of GST audit:
    1. Audit by tax authorities (as per section 65)
    2. Special Audit (as per section 66)
  • “Reconciliation statement.” is for reconciling the value of supplies declared in the annual return with the audited annual return.
  • GST audit can only be done by the Chartered Accountants or Cost work Accountants.
  • The annual return under GST act, 2017 must be filed on or before 31st December of the following financial year.
  • For July 2017 to March 2018 due date is 30.06.2019.

For example:

For the FY ending on 31.03.2018, the GST annual return must be filed on or before 31st December 2018.

  • GSTR 9C is divided into 5 parts
Part No. Particulars
I Basic Details
II Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR 9)
III Reconciliation of tax paid
IV Reconciliation of Input Tax Credit (ITC)
V Auditor’s recommendation on additional Liability due to non-reconciliation


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